Geode Capital Management LLC Purchases 40,457 Shares of Four Corners Property Trust Inc (NYSE:FCPT)

Geode Capital Management LLC raised its position in Four Corners Property Trust Inc (NYSE:FCPT) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 712,421 shares of the financial services provider’s stock after acquiring an additional 40,457 shares during the quarter. Geode Capital Management LLC’s holdings in Four Corners Property Trust were worth $18,665,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund acquired a new stake in Four Corners Property Trust in the fourth quarter valued at approximately $26,000. NumerixS Investment Technologies Inc grew its position in Four Corners Property Trust by 50.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 400 shares in the last quarter. Lindbrook Capital LLC acquired a new stake in Four Corners Property Trust in the fourth quarter valued at approximately $32,000. Magnus Financial Group LLC acquired a new stake in Four Corners Property Trust in the fourth quarter valued at approximately $247,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Four Corners Property Trust in the fourth quarter valued at approximately $262,000. 89.89% of the stock is owned by institutional investors.

Shares of FCPT opened at $28.22 on Thursday. Four Corners Property Trust Inc has a 12-month low of $22.67 and a 12-month high of $29.85. The firm has a market cap of $1.90 billion, a P/E ratio of 19.87 and a beta of 0.27. The company has a current ratio of 5.78, a quick ratio of 5.78 and a debt-to-equity ratio of 0.89.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.10). Four Corners Property Trust had a return on equity of 12.63% and a net margin of 56.35%. The firm had revenue of $39.60 million for the quarter, compared to the consensus estimate of $39.84 million. During the same quarter last year, the business earned $0.34 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts predict that Four Corners Property Trust Inc will post 1.44 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.287 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, June 27th. Four Corners Property Trust’s payout ratio is 81.56%.

A number of research firms have recently weighed in on FCPT. Zacks Investment Research downgraded shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Berenberg Bank began coverage on shares of Four Corners Property Trust in a research report on Tuesday, April 23rd. They set a “hold” rating and a $36.00 price target for the company. Boenning Scattergood reissued a “buy” rating and set a $30.00 price target on shares of Four Corners Property Trust in a research report on Wednesday, April 24th. Finally, Barclays started coverage on Four Corners Property Trust in a research note on Wednesday, May 15th. They set an “equal weight” rating and a $29.00 price objective on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $30.40.

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About Four Corners Property Trust

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.

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Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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